For reprint rights or to purchase a copy of your Daily Journal photo, email jeremy@reprintpros.com for prices or call 949-702-5390.

To buy more copies, call 866-531-1492 or email subscribe@dailyjournal.com
This is the property of the Daily Journal Corporation and fully protected by copyright. It is made available only to Daily Journal subscribers for personal or collaborative purposes and may not be distributed, reproduced, modified, stored or transferred without written permission. Please click "Reprint" to order presentation-ready copies to distribute to clients or use in commercial marketing materials or for permission to post on a website. and copyright (showing year of publication) at the bottom.
Subscribe to the Daily Journal for access to Daily Appellate Reports, Verdicts, Judicial Profiles and more...

Litigation

Apr. 26, 2012

Subprime lender settles SEC case

A one-time top subprime lender agreed Tuesday to pay $28.2 million to the Securities and Exchange Commission for misleading investors about mortgage-backed securities.

By Don J. DeBenedictis
Daily Journal Staff Writer

SANTA ANA - A one-time top subprime lender agreed Tuesday to pay $28.2 million to the Securities and Exchange Commission for misleading investors about mortgage-backed securities as the housing market collapsed.

The SEC charged in a lawsuit, also filed Tuesday, that Option One Mortgage sponsored more than $4.3 billion worth of the securities in the first three months of 2007, promising investors it would repurchase or...

To continue reading, please subscribe.
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!

Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)

Already a subscriber?

Enewsletter Sign-up



By using our website, you agree to our use of cookies in accordance with our cookie policy. You can learn more about how we use cookies by reviewing our Privacy Policy here.